Putt Corporation acquired 70 percent of Slice Company's voting common stock on January 1, 20X3, for $158,900. Slice reported common stock outstanding of $100,000 and retained earnings of $85,000. The fair value of the noncontrolling interest was $68,100 at the date of acquisition. Buildings and equipment held by Slice had a fair value $25,000 higher than book value. The remainder of the differential was assigned to a copyright held by Slice. Buildings and equipment had a 10-year remaining life and the copyright had a 5- year life at the date of acquisition. Trial balances for Putt and Slice on December 31, 20X5, are as follows: Putt Corporation Slice Company Debit Credit Cash $ 15,850 Debit $ 58,000 Credit Accounts Receivable 65,000 70,000 Interest & Other Receivables 30,000 Inventory 150,000 10,000 180,000 Land 80,000 60,000 Buildings & Equipment 315,000 240,000 Bond Discount 15,000 Investment in Slice Company 157,630 Cost of Goods Sold 375,000 110,000 Depreciation Expense 25,000 10,000 Interest Expense 24,000 33,000 Other Expense 28,000 17,000 Accumulated Dividends Declared Depreciation-Buildings and Equipment Accounts Payable Other Payables 30,000 5,000 120,000 61,000 $ 60,000 28,000 30,000 20,000 Bonds Payable 250,000 300,000 Common Stock Additional Paid-in Capital Retained Earnings Sales Other Income 150,000 100,000 30,000 165,240 100,000 450,000 190,400 28,250 Gain on Sale of Equipment Income from Slice Company Total 9,600 $1,295,480 10,990 $1,295,480 $808,000 $808,000 Putt sold land it had purchased for $21,000 to Slice on September 20, 20X4, for $32,000. Slice plans to use the land for future plant expansion. On January 1, 20X5, Slice sold equipment to Putt for $91,600. Slice purchased the equipment on January 1, 20X3, for $100,000 and depreciated it on a 10-year basis, including an estimated residual value of $10,000. The residual value and estimated economic life of the equipment remained unchanged as a result of the transfer, and both companies use straight-line depreciation. Assume Putt uses the fully adjusted equity method. Required: a. Compute the amount of income assigned to the noncontrolling interest in the consolidated income statement for 20X5. Income to noncontrolling interest